Generally, persons who want to study in Canada must first apply for and receive a study permit. The Immigration and Refugees Protection Act (IRPA) notes that study permit applicants are required to satisfy visa officers that they have sufficient available financial resources to pay tuition fees and cover expenses for themselves, as well as for accompanying family members while residing in Canada. But the most frequently asked question is: what is the minimum funds an applicant is required to have, and what documents can be used to show proof of same?
Students are required to demonstrate financial sufficiency only for their first year of studies, regardless of the duration of the course or program of studies in which they want to enroll.[1] The minimum funds required for living expenses depends on the annual tuition amount as noted on the Letter of Acceptance, as well as whether the study permit applicant has accompanying family members. The requirements are different for Quebec.
Provinces outside Quebec
Applicants who intent to study in a province outside Quebec must show that the following amount is available to cover their living expenses in addition to the total tuition for the first year:
Student base: $10,000 for living expenses.
Spouse/common-law partner/first family member base (if applicable): $4,000.
Dependent child/subsequent family member base (if applicable): $3,000.
Despite the minimum funds required, deciding officers must be satisfied that there is a probability of funding for future studies.[2]
What documents can be used to show the minimum available funds?
The Immigration Refugees and Citizenship Canada’s (IRCC) website has outlined some generally acceptable documents[3] which may be used to show proof of funds as follows:
Proof of bank accounts in the applicant’s name;
Guaranteed Investment Certificate (GIC) from a participating Canadian financial institution;
Proof of a student or education loan from a bank;
Bank statements for the 4 months preceding the application;
Bank draft convertible to Canadian dollars;
Proof of payment for tuition and housing fees;
Letter from a person or school pledging to undertake the student’s expenses; and
Proof of funding paid from within Canada, where the student has a scholarship, or is in a Canadian-funded educational program.
Officers also take into consideration source of funding derived from scholarships, fellowships, assistantship and the like. They are tasked with routinely requiring banking documentation and financial background information to ensure program integrity while assessing study permit applications. They may also verify history of funds and employment documentation, as necessary.
If you wish to learn more or need assistance with applying for a study permit, you may send us an email at info@johnsonlawils.com or contact us using our contact form.
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